| July
11, 2003-- Recent
tax litigation and IRS pronouncements pave the way for
realization of significant tax benefits associated with
depreciation of real property.
The U.S. Tax Court recently ruled that certain costs
that have been classified as buildings subject to a 39-year
depreciable life should be classified as personal property
subject to a 5, 7, or 15-year depreciable life.
The benefits of this tax ruling were enhanced with
the recent passing of the Jobs and Growth Tax Relief
Reconciliation Act of 2003. The Act increases the first year “bonus” depreciation
deduction on personal property to fifty percent.
Our
construction specialists will assist you in realizing
significant depreciation deductions.
Our analysis will identify overlooked costs that may
be segregated for shorter depreciable lives, thereby
minimizing your tax liability and increasing your cash flow.
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